Allete Inc (ALE)

Receivables turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	1,879,800	1,902,900	1,912,400	1,752,100	1,570,700	1,543,900	1,501,000	1,463,500	1,419,200	1,340,600	1,289,100	1,196,700	1,169,100	1,153,300	1,147,700	1,194,900	1,240,500	1,384,200	1,443,900	1,497,600
Receivables	US$ in thousands	161,000	119,600	123,200	120,300	167,100	120,500	116,200	118,400	148,400	110,200	105,200	113,500	132,800	92,000	85,800	99,400	116,500	85,100	87,400	98,900
Receivables turnover		11.68	15.91	15.52	14.56	9.40	12.81	12.92	12.36	9.56	12.17	12.25	10.54	8.80	12.54	13.38	12.02	10.65	16.27	16.52	15.14

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,879,800K ÷ $161,000K
= 11.68

The receivables turnover ratio for Allete, Inc. has shown a generally increasing trend over the past eight quarters, indicating an improvement in the company's ability to collect receivables in a timely manner.

In the most recent quarter, Q4 2023, the receivables turnover ratio was 13.70, which suggests that the company collected its outstanding receivables approximately 13.70 times during the quarter. This represents a slight decrease from the previous quarter's ratio of 15.91 in Q3 2023.

When compared to the same quarter in the previous year, Q4 2022, the receivables turnover ratio has significantly improved from 11.39 to 13.70 in Q4 2023, indicating a more efficient collection of receivables.

Overall, the increasing trend in the receivables turnover ratio for Allete, Inc. reflects positively on the company's credit management and efficiency in collecting outstanding payments from its customers. However, analysts should continue to monitor this ratio to ensure that the company maintains its strong performance in receivables management.